MIAMI — Icelandic low-cost carrier, Wow Air, has revealed a change in it scheduled flights to London beginning in 2019, switching from London-Gatwick (LGW) to Stansted (STD). Also, the carrier will be selling four Airbus A321s to Air Canada as part of major cost-cutting strategies.
The airline has been flying between LGW and its home base in Reykjavik (RKV) since 2012 when it acquired Iceland Express and inherited its operations.
WOW Air will now operate its final Gatwick flight on Saturday, March 30, 2019, departing at 10:35 am. The following day, the airline will switch its daily flight to London-Stansted for the entire summer of 2019.
It has been no secret that 2018 has been an extremely challenging year for WOW Air, as it has struggled to cope with increasing fuel costs, the introduction of a brand new fleet of Airbus A330 and A320/321neos, along with falling passenger demand at the same time as launching a whole host of new routes.
Selling A321s to Air Canada
Following the carrier’s difficulties to find a suitable bidder to take over the company, WOW Air announced immediate plans to reduce its fleet along with a myriad of routes being cut in November.
Last month, the Icelandair Group scrapped its plans to acquire low-cost carrier rival WOW Air after both companies agreed it was the best course of action.
On the first week of November, the Icelandair Group had agreed to acquire the entire share capital of low-cost rival Wow Air.
Under the scrapped plans, both airlines would remain separate but under the same group’s umbrella. WOW Air shareholders would receive a total of 272,341,867 shares, or the equivalent of 5.4% of the group’s shares after the transaction had been completed.
Since then, the LCC has sold the lease for four of its Airbus A321ceos (Current engine Option) to Air Canada, following the need to downsize its fleet as part of the airlines large-scale cost-cutting initiative.
Meanwhile, Indigo Partners (majority stakeholder in Volaris, WizzAir, Frontier, and JetSmart) revealed that they had reached a preliminary agreement to take over the ill-fated Icelandic LCC.
Should the takeover bid be successful, it would ensure WOW Airs short-term future going into 2019.
In the meantime, the airline’s management is committed to reducing costs by cutting routes and reducing the airline’s fleet to be in a much more competitive position.
Further route cancellations announced by WOW Air will take effect between January 22, and June 6, 2019.
- Reykjavik Keflavik – Delhi ends 22JAN19
- Reykjavik Keflavik – Los Angeles ends 23JAN19
- Reykjavik Keflavik – London Gatwick ends 30MAR19
- Reykjavik Keflavik – San Francisco ends 31MAR19
- Reykjavik Keflavik – Vancouver ends 06JUN19
Moreover, seasonal services to the following destinations will not resume in 2019.
- Reykjavik Keflavik – Cincinnati
- Reykjavik Keflavik – Cleveland
- Reykjavik Keflavik – Dallas/Ft. Worth
- Reykjavik Keflavik – New York JFK